Bristol Myers to shutter Bay Area cell therapy R&D facility as it eliminates jobs and costs

Bris­tol My­ers Squibb is clos­ing a cell ther­a­py R&D site in Cal­i­for­nia as the com­pa­ny im­ple­ments a $1.5 bil­lion cost-cut­ting pro­gram that was an­nounced this week, ac­cord­ing to a com­pa­ny spokesper­son.

The Red­wood City, CA fa­cil­i­ty will be closed and em­ploy­ees who aren’t be­ing let go will be re­lo­cat­ed to an­oth­er site in Bris­bane, al­so in the Bay Area. The changes come amid lay­offs of rough­ly 2,200 em­ploy­ees com­pa­ny-wide, rep­re­sent­ing about 6% of its glob­al work­force, and a pipeline re­or­ga­ni­za­tion as new CEO Chris Boern­er steers Bris­tol My­ers through a “tran­si­tion pe­ri­od” fol­low­ing sev­er­al big ac­qui­si­tions.

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